Chainlink reached a six week high Tuesday, when the token increased for a sixth consecutive session. This move saw the token rise past a key resistance level. Uniswap also saw prices rise by up to 16% earlier in today’s trading session.
Chainlink (LINK), which rose on Tuesday for the sixth consecutive day, took the token to its highest point since mid August.
After trading at a $6.55 floor on Wednesday, LINK/USD rallied in back to back sessions with prices reaching an all-time high of $8.36 today.
Tuesday’s high mark is the highest that chainlink has reached since August 17, when it failed to break through from $9.50.
The chart shows that today’s price rise was the result of a successful move above the $8.05. ceiling.
This was not all. The 14-day relative strength indicator (RSI), which had been holding steady for the past week, also showed a breakout.
The index currently stands at 61.03 as of writing. This is the highest level since August 14.
Uniswap was another notable gainer Tuesday, rising by as high as 16% during today’s session.
The UNI/USD rose to $6.68 Tuesday, a price that saw prices rise to their highest point since September 13.
Today’s move has resulted in uniswap trading close to \$6.70. This ceiling was historically a point of contention.
The gains made in the past have been somewhat diluted as the day progresses. As of writing, the token trades at $6.61.
This is due to the RSI approaching a hurdle at 58.00. Some traders have liquidated earlier positions.
The RSI must move beyond the 58.00 mark in order to allow UNI to rise above $7.00 over the next few days.